The ecosystem of Solana is witnessing significant growth, with the price of its native token SOL approaching the $200 mark. This growth is supported by record trading volumes on decentralized exchanges (DEX) and an increase in the total value locked (TVL) in DeFi protocols. According to DeFiLlama, trading volume on Solana-based DEX in the last 24 hours exceeded $3.6 billion, marking a new all-time high. This growth is attributed to low network fees and the popularity of meme coins such as Wen, Dogwifhat, Bonk, and Book of Meme. As a result, Solana-based DEX have repeatedly surpassed Ethereum in trading volume.

Among the DEX on Solana, notable ones include Orca, Raydium, and Lifinity with daily trading volumes of $1.64 billion, $867 million, and $679 million respectively. Solana's TVL also reached a two-year high, approaching $4 billion, surpassing Binance Smart Chain for the first time. This underscores significant interest in the Solana DeFi ecosystem, which was previously declared "dead," but now its TVL has grown by 18 times. Additionally, there is a growing trend of creating new Solana Public Library (SPL) tokens, with a record number of new tokens being minted daily.